The Times posts rare profit ‘thanks to internet paywall’

Rupert Murdoch’s Times and Sunday Times today declared an operating profit for the first time since 2001 in what they claim is a landmark moment that shows their internet paywall is working.

Times Newspapers made a £1.7 million annual profit against a loss of £6 million a year ago and more than £70 million five years ago.

The Times has 152,000 digital-only subscribers up 8%, and The Sunday Times has 154,000, up 12%.

Print subscribers also get digital access. All subscribers, known as members, pay £6 a week.

Parent company News UK has spent heavily on video rights, including Premier League football, and said the Times’ accounts include a share of those costs.

The company declined to disclose full accounts before filing to Companies House but 51% of sales came from subscriptions and cover price and only 44% from advertising.

The Times’ paywall contrasts with the Guardian and Daily Mail which are free and ad-funded.